Two-Unit Duplex with
For Sale
$349,900
1395 WESTERN Avenue, Green Bay, WI 54303
Residential Income, GREEN BAY, WI
Property Size1,456 SF
Lot Size0.20 Acres
Price / SF$240.32
Days on Market92
Property Features for 1395 WESTERN Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
2 Family/Duplex
Parking
2
Lot features
Corner Lot
Elementary school district
Green Bay Area
Middle school district
Green Bay Area
High school district
Green Bay Area
Directions
41 exit Mason St to Military north to western east to house
Standard status
Active
APN
6-113-C-1
Size
1,456 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3464
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
central air
fenced backyard
patio
Building Details
Year built
1952
Number of units
2
Building materials
Vinyl Siding
Listing Agency:
Keller Williams Green Bay · Keller Williams Realty
(920) 632-7702
Listed By:
Maria D. Salas Ortiz · License #9498958
(920) 360-0632
Added: Jun 3
Changed: Sep 1
Last Checked: Sep 2 at 7:06AM
MLS# 50326682
Copyright © 2026 Realtor Association of Northeast Wisconsin. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains two 2-bedroom, 1-bathroom units within a 1,456-square-foot property built in 1952. Each apartment has its own utilities, while central air serves both units. The building has vinyl siding and forced-air heating, with public water and public sewer supporting the property. Three garage spaces provide on-site parking and storage.
The property sits on a 0.2-acre lot at 1395 Western Avenue in Green Bay, Wisconsin. The 1397 side includes a fenced backyard and patio, adding private outdoor space to that unit. Zoned 2 Family/Duplex, the property supports its existing two-unit residential configuration and can accommodate either rental use or owner occupancy as described.
The property sits on a 0.2-acre lot at 1395 Western Avenue in Green Bay, Wisconsin. The 1397 side includes a fenced backyard and patio, adding private outdoor space to that unit. Zoned 2 Family/Duplex, the property supports its existing two-unit residential configuration and can accommodate either rental use or owner occupancy as described.
Key Highlights
- Two 2‑bedroom, 1‑bathroom units
- 1,456 square feet on a 0.2‑acre lot
- Three garage spaces included
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,714
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.63%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$254,280
$254.3K
Cap Rate 7%
$181,629
$181.6K
Cap Rate 9%
$141,267
$141.3K
Market Conditions
NOI Build-Up for 1,456 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$19.2K $13.20/SF
− Vacancy
−$1.1K −$0.73/SF
EGI
$18.2K $12.47/SF
− OpEx
−$5.4K −$3.74/SF
NOI
$12.7K $8.73/SF
Area
Green Bay, WI
Vacancy
5.50%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$254,280
Cap Rate 7%
$181,629
Cap Rate 9%
$141,267
Alternative Uses
Best Use
Multifamily LT 5
$181.6K
$158.9K – $211.9K
NOI $12,714 @ 7.0% cap · market cap 3.63%
Second Best
Apartment 5plus
$169.2K
$148.0K – $197.4K
NOI $11,843 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$339.5K
$297.0K – $396.0K
NOI $23,762 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
718
Businesses Nearby
Explore this area
Business Placement
Demographics for 54303, WI
27,478
Population
13,088
Households
2.1
Avg Household Size
36
Median Age
18%
College-Educated
91%
High-School Grad
11.5 sq mi
ZIP Area
2,389
Density / Sq Mi
$58,110
Median Household Income
$38,983
Median Earnings
$859
Median Rent
$160,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two well-maintained apartments offer separate utilities, central air, and a fenced outdoor area for one residence.
Where is this duplex located?
The property is located at 1395 WESTERN Avenue Green Bay, WI.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bathroom units; 1,456 square feet on a 0.2‑acre lot; Three garage spaces included
